Cooks Coffee Company Ahead of Budget and Planning Dual Listing in UK
Cooks Coffee Company (CCC) listed in the NZX but operating internationally is reporting that for the first 3 months of its financial year (April-June 2022) group store sales of its core businesses - Esquires UK Esquire Ireland and award-winning Triple Two UK - are up +90% compared to the same period last year and +34% compared to pre Covid sales for the same period in 2019. The three core businesses are as a group 6.4% ahead of budget for the quarter. Esquires UK is at +4.6% Triple Two at +5.9% and Esquires Ireland is at +9.5%.
All figures indicate there is significant growth in suburban & neighbourhood outlets reflecting that Working from Home (WFH) has become a Covid related reality. Store sales for these outlets for Esquires UK alone are +56% of pre Covid sales in 2019. The company opened five new outlets in the quarter and closed two. There is a strong pipeline of store openings to come to fruition over the remainder of 2022.